Oxbow Advisors LLC Takes Position in Barrick Mining Corporation $B

Key Points

• Oxbow Advisors LLC has acquired 37,356 shares of Barrick Mining Corporation valued at approximately $778,000, adding to the recent trend of institutional investments in the company.
• Barrick Mining's stock recently saw a 2.7% increase and is currently trading at $35.61, with a market cap of $60.64 billion.
• The company reported $0.47 earnings per share for the last quarter, matching analysts' expectations, and has seen a 16.4% increase in year-over-year revenue.

Oxbow Advisors LLC acquired a new stake in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 37,356 shares of the gold and copper producer's stock, valued at approximately $778,000.

Several other hedge funds and other institutional investors have also made changes to their positions in B. GAMMA Investing LLC grew its stake in shares of Barrick Mining by 1,844.0% in the first quarter. GAMMA Investing LLC now owns 6,007 shares of the gold and copper producer's stock valued at $117,000 after buying an additional 5,698 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Barrick Mining by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after buying an additional 563 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Barrick Mining by 28.9% in the first quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer's stock valued at $110,000 after buying an additional 1,266 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Barrick Mining by 1.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,792 shares of the gold and copper producer's stock valued at $1,454,000 after buying an additional 1,156 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Barrick Mining by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 291,281 shares of the gold and copper producer's stock valued at $5,663,000 after buying an additional 59,906 shares in the last quarter. 90.82% of the stock is owned by institutional investors.

Barrick Mining Stock Up 2.7%

B opened at $35.61 on Friday. Barrick Mining Corporation has a fifty-two week low of $15.11 and a fifty-two week high of $36.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.53 and a current ratio of 3.21. The company has a market capitalization of $60.64 billion, a P/E ratio of 22.40, a P/E/G ratio of 0.57 and a beta of 0.30. The stock has a fifty day moving average of $29.51 and a 200-day moving average of $23.34.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Monday, August 11th. The gold and copper producer reported $0.47 earnings per share for the quarter, hitting analysts' consensus estimates of $0.47. Barrick Mining had a return on equity of 8.19% and a net margin of 19.99%.The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.7%. Barrick Mining's dividend payout ratio (DPR) is currently 37.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on B shares. Scotiabank raised their target price on shares of Barrick Mining from $25.00 to $26.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. TD Securities lifted their price objective on shares of Barrick Mining from $38.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Barrick Mining from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Bank of America lifted their price objective on shares of Barrick Mining from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Zacks Research cut shares of Barrick Mining from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

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